As streaming services raise fees, some turn to illegal streaming sites
BOK holds key rate steady, cuts 2024 growth outlook
4.0 magnitude earthquake shakes southeastern Korea
NK will never discuss 'sovereignty' with US, says Kim Yo-jong
Remaining BTS members to begin military service next month
Hankook Tire supplies tires for Audi RS modelsBy Yonhap
Published : Nov. 4, 2020 - 10:27
Hankook Tire has supplied the high-performance Ventus S1 evo 3 and Winter i*cept evo2 tires for Audi's RS 7 Sportback sedan and RS6 Avante wagon since early this year, the company said in a statement.
The company didn't provide an exact time frame for the supply deal or the value of the deal.
The tiremaker has supplied original equipment (OE) tires to Audi models, such as the A3 and A4 sedan, and the Q3, Q5, Q7, SQ7, Q8 and SQ8 SUVs in the past decade.
Supplying OE tires to car manufacturers does not generate much revenue for tiremakers but securing big companies as clients helps improve their brand image and can lead to the raising of product prices down the line.
For tiremakers, it is more profitable to sell replacement equipment (RE) tires in after-sales markets.
To enhance its global brand image, the tiremaker has provided its products to 320 kinds of vehicles of nearly 50 foreign carmakers, including Audi, BMW, Mercedes-Benz and Porsche.
From January to September, its net profit plummeted 41 percent to 235.27 billion won from 399.26 billion won in the year-ago period as the COVID-19 pandemic affected vehicle production and sales.
Operating profit fell 6.1 percent to 400.76 billion won in the first 10 months from 426.72 billion won a year earlier. Sales were down 10 percent to 4.69 trillion won from 5.22 trillion won during the same period.
Hankook Tire earns over 80 percent of its total revenue from abroad.
It has eight plants -- two in South Korea, one in Hungary, one in the United States, three in China and one in Indonesia -- whose combined capacity reaches 102 million tires. (Yonhap)
Broadcasting watchdog head offers resignation ahead of impeachment vote
Cabinet passes motion requesting reconsideration of labor bill
US slaps additional sanctions against N. Korea in response to spy satellite launch